Mr. Sandy MacDougall reports
NORAM RECEIVES RESULTS FOR CVZ-79: HIGH-GRADE INTERCEPT OF 260.0 FT (79.2 M) AVERAGING 1185 PPM & HIGH OF 1660 PPM
Noram Lithium Corp. has successfully completed CVZ-79 (PH-05) and released the final assay results. The company completed core hole CVZ-79 at a depth of 503 feet (153.3 metres). Sampling for assay began at 30 ft (9.1 m) and continued to the bottom of the hole, an interval thickness of 260.0 ft (79.2 m) was intersected from 100 ft (33.5 m) to 360 ft (109.7 m). The hole ended in mineralization and the weighted average lithium values present were as displayed in the attached table.
"CVZ-79 was one of the holes near the eastern edge of Noram's Zeus property. At this location, it is anticipated that it will add substantially to Noram's indicated lithium resource and will reassign a large portion of the current inferred resource into the indicated category," comments Brad Peek, vice-president of exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.
The samples were analyzed by the ALS laboratory in Reno, Nevada. Quality assurance/quality control samples were included in the sample batch and returned values that were within their expected ranges.
The technical information contained in this news release has been reviewed and approved by Brad Peek, MSc, CPG, who is a qualified person with respect to Noram's Clayton Valley lithium project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium is a well-financed Canadian-based advanced lithium development-stage company with less than 90 million shares issued and a fully financed treasury. Noram is aggressively advancing its Zeus lithium project in Nevada from the development-stage level through the completion of a prefeasibility study in 2022.
The company's flagship asset is the Zeus lithium project, located in Clayton Valley, Nevada. The Zeus project contains a current National Instrument 43-101 measured and indicated resource estimate of 363 million tonnes grading 923 parts per million lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December, 2021, a robust PEA (preliminary economic assessment) indicated an after-tax net present value (8 per cent) of $1.3-billion (U.S.) and internal rate of return of 31 per cent using $9,500 (U.S.)/tonne lithium carbonate equivalent (LCE). Using the LCE long-term forecast of $14,000 (U.S.)/tonne, the PEA indicates an NPV (8 per cent) of approximately $2.6-billion (U.S.) and an IRR of 52 per cent at $14,250 (U.S.)/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159
For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is notcomprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results,performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in theAgreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to,regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this newsrelease are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placedon such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in thedisclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as aresult of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral ResourceEstimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABHEngineering (December 2021).
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is providing a corporate update and an update on its 100% owned Zeus Lithium Project ("Zeus" or the "Project"), located in Clayton Valley, Nevada
Zeus Lithium Project Update
In mid-March, the Company produced an updated Mineral Resource Estimate (MRE) for Zeus which outlined a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1. Following the updated MRE, the Company initiated a number of Project de-risking initiatives:
"The last four months have been very successful at de-risking the Zeus Project," stated Greg McCunn, CEO of noram. "Early results from the metallurgical test program are confirming and validating our process flowsheet as well as identifying efficiencies to reduce overall operating costs. By focusing the project on the high-grade core of the Zeus Project, we are expecting to materially increase grades of material fed to the processing plant for the first 15-20 years of operations. This will allow us to reduce the scale of the process facility, which is expected to result in lower capital costs, while still maintaining meaningful levels of lithium carbonate production for the electric vehicle battery market.
Preliminary results from Phase 1 of the PFS have outlined a robust business case for the Project and we are now optimizing the business case based on a series of trade off studies. We are expecting to begin releasing preliminary result from this important work when it becomes available later in the third quarter."
Corporate Update
On May 31st, the Company announced that it had engaged Creative Direct Marketing Group, Inc. (CDMG) to provide the Company with marketing services and to raise public awareness of the Company. Over the past two months, the Company has been working with CDMG to prepare for the upcoming campaign which is expected to include both digital and direct mail campaigns. The campaign is expected to get underway in September.
Executive Chairman, Sandy MacDougall said "We are looking forward to communicating the exciting results from our technical work so far this year as they become available later this quarter. We are making extensive efforts with this new investor awareness campaign. noram is looking forward to widening its reach by broadening our audience and sharing the merits of this incredible project with a largely untapped investor base. While the campaign will be focused largely on the United States, our existing investor base in Europe will continue to be communicated with through our VP of Corporate Development, Simon Studer, who is multi-lingual and based in Switzerland."
For additional information:
Contacts:
In Europe: VP Corporate Development simon.studer@noramlithium.com
Elsewhere: Investor Relations at ir@normanlithiumcorp.com
Website: www.noramlithiumcorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
About noram lithium corp.
noram lithium corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital.
Footnote
1 Refer to the report entitled "Updated Resource Estimate Zeus Lithium Project, Esmeralda County Nevada" with an effective date of March 17, 2023 and filed under the Company's filings on www.sedar.com
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. Although noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces that it has engaged Creative Direct Marketing Group Inc. ("CDMG") to provide the Company with marketing services and to raise public awareness of the Company
"A leader in targeted advertising, Creative Direct Marketing Group, Inc is a full-service, direct response advertising and digital marketing agency with one goal in mind: increasing your response, market presence, and profits through ‘accountable advertising.' For more than 40 years, we've helped turn entrepreneurial start-ups into large companies and large companies into multibillion-dollar businesses" commented CDMG.
"This is another significant step forward for noram. The Zeus Project is a US-based project and yet Americans hold a relatively small market share. Engaging the expertise of CDMG, who hosts an enormously successful track record, will allow noram to further establish its rightful place in the heart of the push for a clean energy economy. America's domestic supply of battery-grade lithium is an indispensable part of this goal; as evidenced by the late 2022 U.S. Department of Energy funding initiatives for domestic supply" said Executive Chairman, Sandy MacDougall. "There is a vulnerability in the domestic supply chain and noram is well-positioned to be a key part of the solution."
Services to be provided by CDMG are anticipated to include investor awareness advertising over an initial term of twelve months commencing June 1, 2023 and continuing through May 31, 2024. CDMG has invoiced the Company for an initial amount of US$1,003,970 which is payable in tranches.
CDMG does not have any prior relationship with the Company and is an arm's length party. To the best of the Company's knowledge, CDMG does not hold, directly or indirectly, any securities of the Company or have any right to acquire any such securities. The proposed compensation for CDMG does not include any securities of the Company.
About noram lithium corp.
noram lithium corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$11 million in cash on March 31, 2023 and no debt.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. Although noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today it has appointed Mr. Glenn Barr as Vice President, Project Development, effective immediately
Mr. Barr has more than 25 years of experience in complex mining project development. Most recently he was Vice President, Project Development at Twin Metals Minnesota (TMM). His work included leading engineering studies, overseeing metallurgical test work programs and integrating environmental protection measures into project design. Prior to TMM, he held various roles at Stantec and Teck. As an Engineering Liaison at Stantec, he guided the environmental and engineering consultants in ensuring alignment and work efficiencies. While at Teck, he was integral in the development and commercialization of a novel hydrometallurgical process, and was a key member of the team that engineered and constructed a hydrometallurgical processing plant in Brazil. Mr. Barr holds a Bachelor of Science, Chemistry from the University of Victoria.
"We welcome Glenn to noram to the newly created position of Vice President, Project Development," stated Greg McCunn, CEO of noram. "His extensive experience with flowsheet development, engineering studies and the permitting environment in the United States will be instrumental to our continued de-risking of the Zeus Lithium Project. Glenn's initial focus will be managing the Prefeasibility Study for Zeus being led by Ausenco."
About noram lithium corp.
noram lithium corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.
About the Zeus Project (100% noram)
The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
Please visit our web site for further information: www.noramlithiumcorp.com.
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Zeus Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. Although noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces it has engaged Ausenco Engineering Canada Inc. ("Ausenco") to lead the Pre-Feasibility Study ("PFS") of its 100% owned Zeus Lithium Project ("Zeus" or the "Project") in Clayton Valley, Nevada
The Company recently engaged SRK Consulting Inc ("SRK") to produce an optimized mine plan for Zeus (see news release dated February 7, 2023) and initiated a further round of metallurgical testing with Kemetco Research Inc ("Kemetco") to confirm and refine the process design for the Project (see news release dated February 14, 2023). Both of these ongoing work streams will form the basis of the PFS, now being managed by Ausenco.
The PFS will consist of two phases of work, as follows:
"We are pleased to be partnering with Ausenco to continue to advance and de-risk the Zeus Lithium Project," stated Greg McCunn, noram's CEO. "The appointment of Ausenco marks a key milestone in the development of the project as we move Zeus, one of the largest lithium resources in North America, towards commercial production. Ausenco has a strong reputation in the global mining sector with a proven track record of delivering rigorous technical studies and executing successful projects."
About Ausenco
Ausenco is a global engineering consulting firm with its team based across 26 offices in 14 countries, with completed projects in over 80 locations worldwide. Combining a deep technical expertise with a 30-year track record, Ausenco provides innovative, value-add consulting and engineering studies and project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas and industrial sectors.
About noram lithium corp.
noram lithium corp. (TSXV:NRM) | (OTCQB:NRVTF) | (Frankfurt:N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.
About the Zeus Project (100% noram)
The Zeus Lithium Project contains a Measured and Indicated Resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
Please visit our web site for further information: www.noramlithiumcorp.com.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the results from this round of test work will confirm the Company's ability to recover high-purity lithium carbonate from Zeus mineralized material. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today that it has filed on SEDAR a National Instrument 43-101 ("NI 43-101") technical report (the "Report") titled "Updated Resource Estimate Zeus Lithium Project". The technical report supports the updated Mineral Resource Estimate announced on January 30, 2023 and is available for review on both SEDAR (www.sedar.com) and the Company's website (www.noramlithiumcorp.com). There are no material differences in the mineral resources reported in the news release of January 30, 2023 and those described in the report
About noram lithium corp.
noram lithium corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.
About the Zeus Project (100% noram)
The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
In December 2021, a robust PEA2 indicated the Project could produce an annual average of 31,900 tonnes of Lithium Carbonate for supply to battery manufacturers with a modelled mine life of 40 years (resources support a +100 year mine life). The PEA outlined a US$528 million capital cost to construct the Project with a robust after-tax NPV(8%) of US$1.3 billion and an IRR of 31% using US$9,500/tonne LCE pricing. The PEA indicates an after-tax NPV(8%) of US$2.7 billion and an IRR of 52% at US$14,250/tonne LCE pricing. Note that the current daily prices have increased to over US$45,000/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com.
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
2 Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. Although noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
International Lithium offers investors exposure to the growing critical metals sector through its advanced-stage Raleigh Lake lithium-rubidium project in Ontario, early-stage copper-cobalt exploration at Firesteel in Ontario, and strategic focus on Southern Africa, all supported by strong infrastructure and a seasoned leadership team.
With strategic divestments, a robust financial position, and a focused growth strategy, International Lithium is well-positioned to meet the rising demand for lithium and other critical metals
International Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH,OTCQB:ILHMF) is a Canada-based mineral exploration company focused on the discovery and development of lithium and other critical metals essential for the transition to a cleaner, greener planet. With a portfolio of projects located in mining-friendly jurisdictions, the company’s primary objective is to build shareholder value by advancing its key assets towards production while expanding its presence in emerging critical metals regions.
International Lithium's flagship asset is the 100 percent owned Raleigh Lake lithium and rubidium project in Ontario. A preliminary economic assessment (PEA) for the Raleigh Lake project, completed in December 2023, demonstrated strong project economics and significant resource growth potential, including an annual after-tax cash flow of C$634 million, NPV of C$342.9 million and IRR of 44.3 percent, with a nine-year mine life and project duration of 11 years. This assessment did not yet include rubidium, which represents significant additional potential pending further market analysis.
Complementing its lithium focus, the company is advancing the Firesteel copper-cobalt project in northwestern Ontario, targeting high-grade base metal mineralization to further diversify its critical metals exposure.
In addition to its Canadian projects, International Lithium is positioning for further international growth with a strategic focus on Southern Africa. It has applied for exclusive prospecting orders (EPOs) in Zimbabwe, one of the world's most prospective regions for hard rock lithium exploration.
Recent strategic divestments, including the sale of the Avalonia project stake, have strengthened ILC's financial position, enabling focused investment in its core projects.
The company is led by an experienced management team with a strong technical background in mineral exploration, project development and corporate finance. Supported by access to established infrastructure, a commitment to sustainable development practices, and a clear strategic focus, International Lithium is well-positioned to capitalize on the increasing global demand for lithium and other essential materials critical to the clean energy transition.
The Raleigh Lake project is ILC’s flagship asset, located approximately 25 kilometres west of Ignace, Ontario. The project covers a contiguous land package of 32,900 hectares and is 100 percent owned by the company. Raleigh Lake benefits from excellent infrastructure access, situated near the Trans-Canada Highway, a Canadian Pacific Railway line, and existing natural gas and hydroelectric infrastructure.
Major public infrastructure relative to the Raleigh Lake project
Raleigh Lake is notable for its dual potential to host both lithium and rubidium mineralization. The lithium is found primarily in spodumene-bearing pegmatites, while rubidium is associated with microcline-rich zones of the same lithium-cesium-tantalum pegmatite system. In 2023, International Lithium published a maiden mineral resource estimate (MRE) that delineated significant resources for both lithium and rubidium using separate cutoff criteria.
For lithium (Li₂O), the project hosts a measured and indicated resource of 5.88 Mt grading 0.79 percent Li₂O, and an inferred resource of 2.07 Mt grading 0.77 percent Li₂O, primarily within pegmatite #1. This lithium resource forms the basis of the company’s PEA, which demonstrated robust project economics with an after-tax NPV (8 percent) of C$342.9 million and an IRR of 44.3 percent.
The rubidium component, though not included in the PEA due to current market constraints, represents an additional potential value stream. The company has reported a measured and indicated resource of 133,000 tons at 6,163 ppm rubidium (0.67 percent Rb₂O) and an inferred resource of 123,000 tons at 4,224 ppm rubidium (0.46 percent Rb₂O), using a 4,000 ppm cutoff. The rubidium zones are found in association with potassic feldspar, offering a potentially recoverable byproduct pending further market and technical evaluation.
Given the project’s strong infrastructure position, mineral endowment, and defined development path, Raleigh Lake represents a compelling advanced-stage opportunity in North America's lithium supply chain. International Lithium is continuing infill and expansion drilling, environmental baseline studies, and metallurgical testing to support project advancement toward pre-feasibility.
The Firesteel project is an early-stage copper-cobalt exploration property located in northwestern Ontario, approximately 10 km west of Upsala along Highway 17. Spanning a 16-km corridor to the Firesteel River, the property lies within a geologically favorable region characterized by Archean metavolcanic and metasedimentary rocks, which are prospective for volcanogenic massive sulphide (VMS) and sedimentary copper systems.
International Lithium completed the acquisition of a 90 percent interest in the Firesteel project in May 2024, aiming to diversify its critical metals portfolio beyond lithium. Historical sampling on the property has returned encouraging results, including copper assays up to 2.6 percent and cobalt values reaching 309 ppm. Notably, the "Roadside 1" occurrence features semi-massive sulphide mineralization comprising pyrite, pyrrhotite, chalcopyrite and bornite. These findings suggest the presence of a highly metamorphosed VMS or sedimentary copper system, potentially up to 20 meters wide and extending over a kilometer in length.
The project's proximity to major infrastructure, including highways and railways, coupled with its strategic location near the company's Raleigh Lake project, enhances its development potential. International Lithium plans to conduct systematic exploration, including geochemical sampling and geophysical surveys, to refine targets for future drilling campaigns.
Wolf Ridge is a 5,700-hectare grassroots lithium project located 20 km southwest of Upsala and near ILC’s Firesteel copper claims. The area benefits from excellent infrastructure, including proximity to Highway 17, power, and road access.
The project was highlighted by the Ontario Geological Survey (2021–2022) for its standout lake sediment anomalies - among the highest lithium values in the region - indicating strong potential for LCT pegmatite mineralization.
Read more on page 54 of the report here.
Southern Africa is recognized as a prospective region for hard rock lithium, and International Lithium’s strategic focus reflects a proactive move to establish a presence in this emerging jurisdiction.
As part of its strategy to expand its critical metals footprint, International Lithium has applied for Exclusive Prospecting Orders (EPOs) over several prospective areas in Zimbabwe. The targeted regions are known for hosting spodumene, lepidolite and petalite-bearing pegmatites, indicating potential for significant lithium resources.
Although the EPO applications are still pending approval, the company has already conducted initial due diligence, including geological reviews and desktop studies, to prioritize exploration targets once access is granted. Zimbabwe’s growing importance as a global lithium supplier, combined with favorable mining policies, offers a compelling backdrop for the company's expansion efforts. International Lithium intends to leverage its technical expertise and exploration experience to quickly evaluate and develop these opportunities upon receiving the necessary permits
John Wisbey joined International Lithium in 2017, initially serving as deputy chairman before being appointed chairman and CEO in March 2018. Under his leadership, the company has undergone a significant transformation, including achieving 100 percent ownership of the Raleigh Lake project, divesting non-core assets, and expanding into new jurisdictions such as Zimbabwe. He founded two London AIM-listed companies: IDOX, which provides software for the UK local government; and Lombard Risk Management, which specializes in software for bank risk management and regulation. He also established CONVENDIA, a private company that specializes in software for cash flow forecasting, project valuation and M&A financial analysis. With a background in banking and financial technology entrepreneurship, Wisbey brings extensive experience in corporate leadership and strategic development. He is also the company's largest shareholder.
Maurice Brooks joined the board of ILC in 2017. He is a licensed senior statutory auditor in the UK. Since 2000, he has been a senior partner at Johnson Smith & Co. in Staines, Surrey. Before that, Brooks was a senior partner in Johnsons Chartered Accountants in the London Borough of Ealing. His commercial and investment experience includes executive directorships in manufacturing and an investment accountant role in the superannuation fund of the Western Australian state government. His early professional employment includes Ball Baker Leake LLP and LLC and Price Waterhouse Coopers-UK.
Anthony Kovacs joined the board of ILC in 2018 and has worked with the company since 2012. He has over 25 years of experience in mineral exploration and development. Before joining ILC, he held senior management roles in which he sourced and advanced iron ore and industrial minerals projects. Kovacs was involved in early-stage work at the Lac Otelnuk Iron Ore project in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Before that, Kovacs worked for Anglo American where he focused on Ni-Cu-PGE and IOCG projects. At Anglo-American, Kovacs was directly involved in several discoveries internationally. Kovacs has significant experience with industrial minerals, ferrous metals, non-ferrous metals and precious metals projects throughout the Americas, Europe and Africa.
Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He is a speaker and expert in marketing behavioral science. In 1995, he founded Giftpoint Ltd. which is now one of the largest specialist promotional merchandise businesses in the UK. with offices in London and Shanghai. Giftpoint Ltd.’s clients include L’Oreal, Oracle, Ocado and Pernod Ricard among others. Thompson was president of IGC Global Promotions, one of the world’s oldest and largest global networks of premium resellers, for seven years. He is an active investor with a special interest and understanding of natural resources businesses.
Geoff Baker joined the board of ILC at the end of 2022 and is a member of the audit committee. He has a career in the natural resource and finance industries. He is a director of Tim Trading, a company offering consultancy services in the oil and gas industry. During his tenure as manager of Insch Black Gold Funds, Baker received the Investors' Choice Swiss Fund Manager of the Year Award. He is a co-founder of a digital collectible non fungible token CryptoChronic and of Cannastore, a pilot e-commerce website. Baker holds a bachelor's degree from the University of Windsor in Ontario.
Muhammad Memon became corporate secretary of ILC in 2021. He has over 10 years of experience in managing finance and compliance functions of public companies in various sectors including mining exploration, investment management, real estate and technology. He assists companies with debt and equity financings, cash flow management and forecasting, legal and regulatory compliance, investor communications, stakeholder engagement and risk management. He is a member of the Chartered Professional Accountants of Canada and a fellow of the Association of Chartered Certified Accountants, United Kingdom.
Metals Australia offers investors exposure to a rapidly advancing, high-grade graphite development project in Quebec with near-term growth catalysts, backed by strong government support, battery-grade test results, and a diversified portfolio of critical, precious and base minerals assets in tier-1 jurisdictions.
Metals Australia (ASX:MLS) is a mineral exploration company with a high-quality portfolio of advanced battery minerals and metals projects in tier-1 mining jurisdictions of Western Australia and Canada. The portfolio comprises two critical minerals projects in Quebec, Canada – the Lac Carheil flake graphite project and the Corvette River gold, silver and base metals project. The Australian portfolio comprises two projects: Warrego East (copper-gold) in Tennant Creek, Northern Territory, and Manindi (vanadium-titanium, zinc) in Western Australia.
The push for net zero targets and the call from policymakers to transition to cleaner energy has intensified the focus on electric vehicles (EVs) and battery storage. EV automakers and battery manufacturers rely on essential materials such as graphite and metals, including lithium, nickel, copper and cobalt, to manufacture the batteries that are used in these vehicles and storage batteries generally. This has driven carmakers and battery manufacturers to partner with battery material suppliers under direct off-take agreements. Further, some automakers/battery manufacturers are buying equity stakes in miners, involving them directly in financing decisions for the development of mining projects. This is encouraging for companies such as Metals Australia as it actively advances its projects towards development.
Graphite is a critical mineral required for the mass electrification of auto transportation.
Metals Australia is focused on progressing its flagship Lac Carheil flake graphite project in Quebec, Canada. The project is well-positioned to supply high quality graphite products, including battery-grade graphite, to the North American market – including for lithium-ion and EV battery production in the future. The company has completed a major winter drill program and is targeting a mineral resource upgrade in Q3 2025, with the updated resource to feed into the ongoing PFS and downstream studies.
Metallurgical work has demonstrated battery-grade spherical graphite (99.96 percent graphitic carbon) with high conversion efficiency and tap density. Downstream battery-grade purification and shaping test work is underway in Germany with ANZAPLAN.
Metals Australia is also advancing its gold silver and base metals exploration project at Corvette River, which is adjacent to Patriot Battery Metals’ world-class lithium project. Work to date has included mapping, trenching and sampling, with further drilling programs planned for 2025.
The company continues its exploration programs at its other Australian projects: Manindi (vanadium-titanium-magnetite) and Warrego East (copper-gold).
The 100 percent owned Lac Carheil graphite project is located in eastern Quebec, a tier-1 mining jurisdiction with strong infrastructure and government support. The project lies near the town of Fermont and has excellent access to power and logistics, including proximity to the upgraded Highway 389, nearby hydropower infrastructure, and an expanding provincial road network.
Project location, claims boundaries, graphite resource & trends, regional magnetics & sample results
The current JORC 2012 mineral resource is 13.3 Mt 11.5 percent total graphitic carbon (Cg) for 1.53 Mt of contained graphite, based on limited drilling along just 1 km of a much larger 36 km mapped trend. The resource includes an indicated resource of 9.6 Mt @ 13.1 percent Cg, and inferred resource: 3.7 Mt @ 7.3 percent Cg.
A major 9,482-meter winter diamond drilling program was completed in early 2025, increasing total project drilling to ~11,800 meters. The program defined a new southeast extension zone with multiple intersections >15 percent Cg and demonstrated graphite continuity over 2.3 km of strike length, more than double the previous extent.
The results from this drilling campaign are being incorporated into an updated mineral resource estimate, expected in Q3 2025, which will underpin the next stage of project development.
Metallurgical and battery test work has confirmed Lac Carheil’s graphite is suitable for battery-grade applications, with:
A PFS is being led by Lycopodium Minerals Canada and is progressing in parallel with downstream battery anode (BAM) test work led by ANZAPLAN in Germany, a location study for a BAM facility, likely in Canada, and marketing and pricing assessments in collaboration with Lone Star Technical Minerals.
The project is uniquely positioned to meet North America’s surging demand for secure, domestic graphite supply, especially for EV and energy storage battery markets. It represents a strategic, high-grade, long-life source of critical material, with potential for vertical integration from mine to battery anode material.
MLS’s Corvette River Project Area’s – Felicie in the northeast, West and East Eade prospects to the south of the Corvette River, 2024 & prior sample result highlights, regional geology - including greenstone belts
The Corvette River gold, silver and base metals project is located in Quebec’s James Bay region. Corvette River comprises multiple prospects including East Eade, West Eade and Felicie. The 2024 program confirmed high-grade gold and base metal zones, with trench samples of up to 29.7 g/t gold. Field programs are ongoing, with follow-up work planned in 2025.
Located in the Murchison District of Western Australia, the Manindi project includes a JORC-compliant zinc-copper-silver resource of 1.08 Mt at 6.52 percent zinc, 0.26 percent copper and 3.19 g/t silver. The project also hosts a high-grade vanadium-titanium-iron (Ti-V-Fe) discovery zone situated adjacent to the base metals resource.
Recent metallurgical test work from the Ti-V-Fe zone has produced two commercially attractive concentrates: a high-grade iron-vanadium product grading 66 percent Fe and 1.19 percent V₂O₅, and a titanium-iron product grading 43.8 percent TiO₂ and 32.0 percent Fe. The combined mass recovery from the two products exceeded 65 percent of the sample, and both products displayed low impurity levels and strong commercial potential. Further processing optimization is underway to enhance the TiO₂ grade.
The mineralised Ti-V-Fe zone remains open at depth and along strike and is hosted within a 2 km-long magnetic gabbro trend. A program of work is being finalised to support drilling to define a mineral resource within the original discovery and to test four newly identified nearby targets. These complements renewed interest in the zinc-copper-silver resource due to stronger base metal prices.
The Warrego East copper-gold project is located in the Tennant Creek region of the Northern Territory, near the historically significant Warrego Mine. The exploration license (E32725) is fully granted, and the mining management plan has been approved. Land access agreements have also been finalised.
Geophysical surveys have defined 11 compelling magnetic and gravity targets along a known mineralised corridor. These targets lie within a prospective structural setting that hosts several high-grade historical deposits. A field program is being prepared for execution following the wet season, alongside three additional tenement applications that aim to expand the project footprint.
A mining engineer, Paul Ferguson has over three decades of experience in the resources and energy sectors across North America, Asia and Australia. He has extensive project development and operational experience working in Canada. He has worked in oil & gas major ExxonMobil across project stages, including feasibility, design, construction, and operation. He has worked in executive level roles within Australia, including at GMA Garnet and held increasingly more senior roles with BHP (Iron Ore & Coking Coal) and then with Exxon Coal Minerals and Mobil Oil Australia during the early stages of his career.
Tanya Newby is a finance and governance professional with over 20 years’ experience in various corporate and commercial roles. She has a strong background in the resources sector and has provided financial advice and assistance to several publicly listed entities through exploration, project development through to the production stage. She is a member of the Institute of Chartered Accountants, member of the Governance Institute of Australia and a graduate member of the Institute of Company Directors.
Michael Muhling has over two decades of experience in resources, including 15 years in senior roles with ASX-listed companies. He is a fellow of CPA Australia, The Chartered Governance Institute, and the Governance Institute of Australia.
Chris Ramsay is a geologist and project manager with over 25 years of experience in the global mining industry. He has been involved in exploration, mine development and operations for mining projects in Australasia, Southeast Asia, and parts of Africa and North America.
Michael Scivolo has extensive accounting and taxation experience for corporate and non-corporate entities. He was a partner/director at a CPA firm until 2011 and has since been consulting in accounting and taxation. Scivolo is on the boards of several ASX-listed mining companies, including Sabre Resources, Golden Deeps and Tennant Minerals Ltd.
Alexander Biggs has over 20 years of experience in the mining and engineering sectors. During his career, he has been involved in various activities, including operations, consulting, finance and capital raising. He is currently the managing director of Lightning Minerals (ASX) and was previously the managing director of Critical Resources (ASX: CRR). Biggs is a member of the Australian Institute of Mining and Metallurgy and a graduate of the Western Australian School of Mines.
Rachelle Domansky is an ESG specialist and a consulting psychologist for businesses, governments and educational institutions in the Asia-Pacific region. In addition to Metals Australia, Domansky holds non-executive board positions at Larvotto Resources Ltd and Quebec Lithium.
Basil Conti has been associated with the mining industry for over 25 years. He is a fellow of the Institute of Chartered Accountants Australia & NZ and was a partner/director of a chartered accounting firm in West Perth until 2015.
